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To: Skeeter Bug who wrote (202980)	5/19/2009 10:44:41 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

re: debt slaves. Have been thinking about that. We have been compounding debt for decades. Much of the Iraq war is being funded by debt. The stimulus is being funded by debt. A watershed event recently occurred which is going to change the game the US has been playing for the past 25 years. I have mentioned it on a few occasions, and it's significance has been totally ignored by the media. In the last 6 months China has gone from being a buyer of treasuries to a seller of treasuries. They have, in effect, pulled our credit line. The Fed's balance sheet is exploding, and it's going to get a lot worse. It's a positive feedback loop, so it's going to end very badly.

To: Skeeter Bug who wrote (202980)	5/19/2009 10:51:28 AM
From: Joe S Pack	Respond to of 306849

There is another mystery to this so called Reagan tax cut. With the help from the senile crook Greenspan's recommendation in 1983 (Social Security Reform commission) for increasing Social Security taxes (also raised the SS benefit age qualification to 67 from 65, a 2 year cushion). Of course it was vote 9 to 3 on a "bi-partition" basis. Tax-and-borrow to spend-and-spend is the theme ever since. Reaper, i do agree with Elroy that reagan shoulders a lot of the blame. he used his bully pulpit to lower taxes, but he DID NOT use it to the same degree to lower spending. his administration was known for massive deficit spending that trained bush, jr to cut taxes no matter what. the problem i have with reagan is he didn't fight the big deficits tooth and nail with weekly campaigns to tell the nation how bad it was for the country. in short, reagan used tax cuts to feather his nest and so he didn't really care about spending too much money as it helped his buddies get rich, too. big deficits became OK under reagan's administration and here we are - debt slaves.